sales tax


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sales tax,

levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. It may be levied each time a commodity changes hands—as from manufacturer to wholesaler, from wholesaler to retailer—and is then called a transactions, or turnover, tax. Many oppose the tax as being regressive, i.e., as placing a disproportionately heavy burden on the poor; but it yields a large revenue, and governments find it easy to collect. As of 1999, 45 states, the District of Columbia, a number of cities and counties, and many foreign countries levied sales taxes. A modern variant of the sales tax is the value-added taxvalue-added tax
(VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level.
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References in periodicals archive ?
Revenue from sales tax makes up about 40 percent of Santa Clarita's general fund, which finances most city services, including protection by the Los Angeles County sheriff's and fire departments.
Lack of an exemption certificate and improper interpretation of the law ranked as the leading transgressions triggering sales tax audit assessments.
Santa Clarita expects to see its sales tax receipts grow significantly as the new Golden Valley Ranch shopping center is built and the Valencia Town Center expansion is completed, Stark said.
Out-of-state vendors will be induced to collect sales tax by offers of amnesty on past taxes they failed to collect, thus providing a more even playing field for in-state vendors as they vie with out-of-state vendors for consumers.
Program maintenance is not subject to sales tax if all the maintenance is done online or electronically.
The other question that looms is whether the prospect of a sales tax on Botox is worrisome to its Irvine-based manufacturer Allergan.
Second, if Land's End has a program which can immediately reflect that in New York State sales of clothing priced under $110 are exempt from the state sales tax but may or may not be subject to county add-on taxes, Congress may well assume any other merchant can do so as well--including the added complication of actually sending the collected tax to the appropriate state, county or some other taxing entity.
For more information on the Streamlined Sales Tax Project, visit www.
Senator Bumpers has already anticipated this need by introducing a bill that would mandate sales tax collection by remote sellers.
What makes this split particularly frustrating is that the flat tax and sales tax are virtually identical.
The state decided to go after the owners of the high profile property for utility sales tax on these payments.
July 21 /PRNewswire/ -- The average sales tax rates at the state, county and city level continue to rise above record levels set in 1992, according to statistics released today by Vertex Inc.